GoDaddy (NYSE:GDDY) Upgraded to Strong-Buy at StockNews.com

GoDaddy (NYSE:GDDY) was upgraded by StockNews.com from a “buy” rating to a “strong-buy” rating in a research note issued to investors on Thursday.

GDDY has been the topic of a number of other reports. Piper Sandler increased their price objective on shares of GoDaddy from $172.00 to $176.00 and gave the company a “neutral” rating in a research note on Thursday. Royal Bank of Canada raised their target price on shares of GoDaddy from $145.00 to $175.00 and gave the stock an “outperform” rating in a research report on Monday, August 5th. B. Riley increased their price target on GoDaddy from $170.00 to $190.00 and gave the stock a “buy” rating in a research note on Thursday. Barclays lifted their price objective on GoDaddy from $165.00 to $185.00 and gave the company an “overweight” rating in a research report on Wednesday, September 25th. Finally, Cantor Fitzgerald reissued a “neutral” rating and issued a $170.00 price target on shares of GoDaddy in a research note on Monday, October 7th. Five equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $170.23.

GoDaddy Stock Performance

GDDY traded up $5.08 on Thursday, reaching $166.68. The company had a trading volume of 2,680,623 shares, compared to its average volume of 1,467,717. The stock has a 50-day moving average price of $159.08 and a 200-day moving average price of $146.68. The stock has a market capitalization of $23.78 billion, a PE ratio of 13.84 and a beta of 1.12. GoDaddy has a 1 year low of $72.14 and a 1 year high of $171.93. The company has a quick ratio of 0.48, a current ratio of 0.48 and a debt-to-equity ratio of 24.13.

GoDaddy (NYSE:GDDY) last released its earnings results on Wednesday, October 30th. The technology company reported $1.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.25 by $0.07. The business had revenue of $1.15 billion for the quarter, compared to analyst estimates of $1.14 billion. GoDaddy had a negative return on equity of 709.73% and a net margin of 41.12%. The company’s revenue for the quarter was up 7.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.89 earnings per share. As a group, research analysts forecast that GoDaddy will post 5.07 EPS for the current fiscal year.

Insider Buying and Selling at GoDaddy

In other GoDaddy news, CAO Nick Daddario sold 2,976 shares of the stock in a transaction on Monday, September 9th. The stock was sold at an average price of $151.61, for a total value of $451,191.36. Following the sale, the chief accounting officer now directly owns 14,728 shares of the company’s stock, valued at $2,232,912.08. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, CAO Nick Daddario sold 2,976 shares of the firm’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $151.61, for a total value of $451,191.36. Following the sale, the chief accounting officer now directly owns 14,728 shares in the company, valued at $2,232,912.08. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Amanpal Singh Bhutani sold 3,000 shares of the stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $166.91, for a total value of $500,730.00. Following the completion of the transaction, the chief executive officer now directly owns 358,773 shares of the company’s stock, valued at approximately $59,882,801.43. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 25,744 shares of company stock worth $4,089,571 over the last ninety days. Company insiders own 0.61% of the company’s stock.

Institutional Investors Weigh In On GoDaddy

Institutional investors and hedge funds have recently bought and sold shares of the business. Price T Rowe Associates Inc. MD lifted its stake in GoDaddy by 94.4% during the first quarter. Price T Rowe Associates Inc. MD now owns 3,655,994 shares of the technology company’s stock valued at $433,895,000 after buying an additional 1,775,708 shares in the last quarter. Kodai Capital Management LP purchased a new stake in shares of GoDaddy in the 1st quarter valued at approximately $75,855,000. Federated Hermes Inc. lifted its position in shares of GoDaddy by 35.6% in the 2nd quarter. Federated Hermes Inc. now owns 1,501,277 shares of the technology company’s stock valued at $209,743,000 after acquiring an additional 394,399 shares in the last quarter. Wedge Capital Management L L P NC boosted its stake in GoDaddy by 2,279.5% in the 3rd quarter. Wedge Capital Management L L P NC now owns 401,249 shares of the technology company’s stock worth $62,908,000 after purchasing an additional 384,386 shares during the period. Finally, Vanguard Group Inc. raised its stake in GoDaddy by 2.6% during the 1st quarter. Vanguard Group Inc. now owns 14,733,764 shares of the technology company’s stock valued at $1,748,603,000 after purchasing an additional 379,228 shares during the period. 90.28% of the stock is owned by institutional investors and hedge funds.

GoDaddy Company Profile

GoDaddy Inc engages in the design and development of cloud-based products in the United States and internationally. It operates through two segments: Applications and Commerce, and Core Platform. The Applications and Commerce segment provides applications products, including Websites + Marketing, a mobile-optimized online tool that enables customers to build websites and e-commerce enabled online stores; and Managed WordPress, a streamlined and optimized website building that allows customers to easily build and manage a faster WordPress site; Managed WooCommerce Stores to sell anything and anywhere online; and marketing tools and services, such as GoDaddy Studio mobile application, search engine optimization, Meta and Google My Business, and email and social media marketing designed to help businesses acquire and engage customers and create content.